Exxon Mobil (XOM) Receives a Buy from Bank of America Securities

In a report released yesterday, Doug Leggate from Bank of America Securities maintained a Buy rating on Exxon Mobil (XOMResearch Report), with a price target of $105.00. The company’s shares closed last Tuesday at $77.99, close to its 52-week high of $83.08.

According to, Leggate is a 4-star analyst with an average return of 9.7% and a 57.1% success rate. Leggate covers the Utilities sector, focusing on stocks such as California Resources Corp, Occidental Petroleum, and Marathon Petroleum.

Currently, the analyst consensus on Exxon Mobil is a Moderate Buy with an average price target of $84.28, a 9.6% upside from current levels. In a report issued on February 2, Argus Research also upgraded the stock to Buy with a $92.00 price target.

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The company has a one-year high of $83.08 and a one-year low of $51.62. Currently, Exxon Mobil has an average volume of 24.94M.

Based on the recent corporate insider activity of 63 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of XOM in relation to earlier this year.

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Exxon Mobil Corp. engages in the exploration, development, and distribution of oil, gas, and petroleum products. It operates through the following segments: Upstream, Downstream and Chemical. The Upstream segment produces crude oil and natural gas. The Downstream segment manufactures and trades petroleum products. The Chemical segment offers petrochemicals. The company was founded by John D. Rockefeller in 1882 and is headquartered in Irving, TX.

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